(PRWEB) July 08, 2014
Predictive analytics determines the data patterns, and envisages future trends and opportunities in the market. The verticals like Banking and Financial Services, Insurance, Healthcare, Environment and Government, Consumer Goods and Retail, Travel and Hospitality, Telecommunication and IT, and many others use predictive analytics in order to have competitive edge.
Due to all these factors the predictive analytics market has crossed $1.7 billion in 2013 and expected to grow up to $6.85 billion by 2019.
North America has the largest market share in predictive analytics market which was $684.4 million in 2013 and is expected to contribute $2.28 billion by 2019. The predictive analytics market of North America is expected to grow with CAGR of 24.5%. The penetration rate of the predictive analytics market is high in the verticals like manufacturing, health care, transportation and logistics.
Browse through the market data tables, figures and detailed ToC on the “North America Predictive Analytics Market”.
European Predictive Analytics Market
The companies in Europe use predictive analytic tools to understand the future opportunity and threat in the current competitive world. Cloud Based predictive analytic tools are used to speed up the deployment time, cost effectiveness and also to bring up more collaboration.
The predictive analytics market in Europe has contributed $593.48 million market share in 2013 and is expected to contribute $2.1 billion by 2019. This represents that the market is growing with a CAGR of 25.7%. The key players of predictive analytics are SAS, IBM, SAP, Tibco, Oracle and many others.
Asia-Pacific Predictive Analytics Market
The rise in small and medium business has boosted the predictive analytics market in Asia-Pacific region because these companies are adopting predictive analytic solutions to improve their profitability.
Thus, the predictive analytics market for Asia-Pacific is expected to grow from $228.8 million in 2013 to $1.35 billion by 2019.
This shows that the market is growing at a CAGR of 36.6%. The top companies of predictive analytics like SAS, IBM, SAP, Tibco, Oracle and many others are providing tools that can process the unstructured data.
Latin American Predictive Analytics Market
The companies in Latin America are using combination of predictive analytics and cloud based technology to open new horizons in the market.
The predictive analytics’ tools are used in various verticals of organization in order to maximize their profitability and have competitive edge in the market.
The predictive analytics market was worth $96 million in 2013 and is expected to be worth $582.8 million in 2019. Thus the calculated CAGR for the period 2013- 2019 is 36.8%. The key players of predictive analytics in Europe are SAS, IBM, SAP, Tibco, Oracle and many others.
Middle East and Africa Predictive Analytics Market
The advanced analytical tools like predictive analytics expand the market significantly by the non-experts without prior training for implementation.
There is increasing demand of predictive analytic solutions due to increase in usage of mobile device, social media, computing technology and internet.
The barrier to the growth of predictive analytics is lack of skilled professionals in Middle East and Africa.
Due to all these factors the predictive analytics market had achieved $99.4 million in 2013 and is growing at a CAGR of 34.9%, and will achieve $546.6 billion by 2019. The top players of predictive analytics are SAS, IBM, SAP, Tibco, Oracle and many others.
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